National Timber Group (NTG) has announced its acquisition of Stoke-on-Trent based Hymor Timber.
Established in 1990, Hymor is an independent timber merchant supplying ethically sourced hardwood and softwood to a range of trade and commercial customers, including joiners and manufacturers across Staffordshire and the surrounding area.
Hymor employs 28 people and in 2020 achieved revenues of £4.5m. Hymor’s acquisition was initiated by the owners’ succession planning.
Hymor’s founders/executives – Graham Morris, Roger Malkin and Chris Hyde – will work with Rob Barclay and Patrick Guest, NTG’s chief executive and managing director for England, to achieve its successful integration into the group.
NTG is a portfolio company of Cairngorm Capital Partners.
Cairngorm Capital’s investment was led by Neil McGill, managing director and Josh Chilton, investment manager.
McGill said: “As investors, we are actively engaged in the strategy and operational development of our portfolio companies. As a result, we take great care to identify complementary acquisitions. Hymor is a highly successful timber merchant with a strong local brand and impressive performance, which pairs well with NTG. We are delighted with this addition to NTG.”
Rob Barclay, group chief executive of NTG, said: “We are delighted to welcome Hymor Timber to the group – our shared expertise and commitment to our customers makes this an obvious and complementary partnership. Together, we will increase our offering in the important hardwood timber category and extend our range of services in the Midlands and the North West, improving our customers’ experience.”
Malkin added: “As founders, Graham, Chris and I are extremely proud of all that we have achieved so far. We know that Hymor is capable of achieving much more. So our priority was to find a partner with shared goals and values who would help it to fulfil its future potential. We were impressed with National Timber Group’s focus on product quality and its commitment to the highest standards of customer service. We are confident that we have selected the right partner and that Hymor will continue to prosper within the enlarged group.”
NTG and Cairngorm Capital were advised on the transaction by Johnston Carmichael (financial and tax) and Addleshaw Goddard (legal).
Hymor was advised by Benchmark International (corporate) and Knights (legal).